Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 138. (Read 684839 times)

I started mining on your server but I started with a negative balance which leads me to think that you are doing something wrong with your calculations for rewards and that you might be taking some of the rewards for the miners
I hope this is not the case and that it's simply a mistake but please look it over.
//DeaDTerra

I have done the above and the mining works fine, when do I know if I have found a block?
//DeaDTerra

Punin I sent you a PM

Ran home at lunch... all excited... had 2 mins to get it working.... failed to connect will have to try again after work .... Just for the record... if i have GUI miner setup mining BTC successfully... do i have to change any settings like what coin i am mining ?? never been able to get the guiminer mining LTC either.. but this could be because my pools do not like guiminer?? urgh sorry this digressing into other Guiminer issues i'm sure and all i probably did was put the wrong port number in.

will have a play and if sucessful will start a nice new thread explaining all to others for Mining PPcoins as there are a few people in similar situations.... http://46.166.138.142/workers.php

Best of luck with the pool and any idea how long it will take to potentially solve a block in the pool... hope i get on board before the first block is solved!! but best of luck to you all

just pointed one of my miners your way

Most excellent, have created an account and will try tonight to point and mine in ur pool .... I have a GUI Miner setup that i will test it on may even have to run home at lunch and see if it works!!

Most likely you have bitcoind already running so you have to set rpcport

Actually a large stash of coins is not even necessary to perform double-spends: you can get extra coin-days-destroyed for your block by paying people to send you their send-to-self transactions privately. As proof-of-stake based mining earns 1% per year, you can pay like 2% per year to make it profitable for them.

Once you have access to transactions which consume a lot of coin-days (relatively to normal spending activity) you can add them to your block and cause a large reorg.

So, basically, what is required is enough hash-power to mine block once in a while, say, once in a hour. And double-spend is pretty much guaranteed.

I've got a pool setup if anyone wants to help test it, create an account @ http://46.166.138.142/

It doesn't matter that it's rare. You can get access to a steady flow of double-spend transactions via a kickback mechanism:

You, a wealthy hacker, would implement a "ppcoin-double-spend-edition" client. It works exactly like a regular client, except there is an additional "double spend lottery" button. When user clicks that button client creates a double-spend transaction for a recent user's transaction and it submits this transaction to you.

This double spend txn will spend 90% of input to user and 10% as a kickback to you.

Now I assume that this client will get popular since users have a chance to buy products for 10% of their cost.

If this client is popular, you get a constant stream of double-spend transactions with kickbacks to you.

You include these double-spend transactions into your proof-of-stake blocks, aiming to trigger a reorg. If you successfully mine it and reorg is successful, you earn kickbacks. If reorg doesn't work, you lose nothing since your coin-days are not consumed and you can try again.

Alternatively, you can use proof-of-work and send-to-self to increase coin-days consumed in your transaction. Quote from the ppcoin paper:


Apparently, it doesn't matter whether coin-days are consumed in proof-of-stake blocks as a stake or in proof-of-work blocks in transactions.

So you can mine proof-of-work blocks which include double-spend transactions and aim to do a reorg. You can easily check whether it's currently possible and how much of an opportunity do you lose in terms of interest and power spent on hashing. Thus you mine only when there is a chance of profit, and on average this operation will be profitable.

Even if you own just 1% of hashing power you have a chance of double-spend once in 100 blocks, which is significant.

Your ppcoin.conf file should look like this:

rpcuser = anyusernameyoulike
rpcpassword = anypasswordulike
server = 1
rpcallowip = 127.0.0.1


Then start your cgminer and add a pool:
URL: http://127.0.0.1:9902
username: same as set above for rpcuser
password: same as set above for rpcpassword

Whoever help me figure out how to get this running, I'll send them a free steam activation key for supreme commander and forged Alliance.

I installed the client and can created my ppcoin.conf file in my roaming/ppcoin folder. I'm pretty sure the ppcoin.conf file is setup wrong and that's why it can't connect or start mining. My 7950's are remaining idle.

I was unaware of that 30 day number.  It looks like it is advantageous to hoard coins without moving them between addresses.

I only have a very vague idea of what this field is really about. A quick glance at the code suggests that it shows the amount you've mined with proof of stake blocks that haven't matured yet. This is obviously still zero for everyone because proof of stake blocks require coins that have aged for at least 30 days.

Assuming your hashrate is about 700 MH/s, you should find a block every 3.8 hours on average at the current difficulty. So 6 hours is well within range.
ppcoind can't tell what your hashrate of external miners is, the gethashespersec RPC call refers to its integrated CPU miner IIUC.

I've mined a bunch of these.  My "stake" is still 0.0.  How do i get stake?  Can I use stake to get mining rewards or transaction fees?

something is wrong? i get 0 when i give "ppcoind gethashespersec"
but i use guiminer with phoenix and i see normal
hashrates in it from my 5970!
6 hours and no block yet!

Some random notes from a quick look at the source code: (I might have missed something though)

• I can't find any code path that actually mines proof of stake blocks. The code seems to be implemented, but nothing seems to be calling it yet. Proof of stake blocks definitely aren't mined through getwork, but rather through (currently inactive, or maybe I'm just blind) CPU mining.
• The difficulty for work and stake blocks seems to be (mostly?) the same, but it's divided by the number of accumulated coin days for stake blocks.
• The block reward for a work block is sqrt(sqrt(9999^4 / difficulty)), rounded down to the next cent boundary.
• The block reward for a stake block is the number of coin years put into it divided by 100.
• The number of "bruteforce attempts" for stake blocks is limited to once per second (up to 2 hours into the past), per transaction used as stake input, per block found on the network.
• Proof of stake blocks can include stake from multiple transactions, as long as it's on the same address (IIUC).
• Minimum age for coins used in a stake block is 30 days.

Sunny might want to confirm if the above is correct...

You're right. Block 1 started with difficulty of 256. Block 0 was at difficulty 1 and generated 9999 coins, but not sure if those are spendable.

That is obviously wrong. The block reward started at 2500, the difficulty at 256. A block reward of 9999 corresponds to difficulty 1.